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Maker price analysis: Price up again as bullish momentum extends to $2512

Maker price analysis Price heads up again as bullish momentum extends to

TL;DR Breakdown

  • Bulls are at lead according to Maker price analysis.
  • Price has moved up to $2512 level today.
  • Support is evidently strong at $1991.23.

The price is covering upward movement once again as the bulls have been at lead today as well. The past week had been highly favorable for the bulls as the price advanced at rapid speed. Today, the trends have been no different as the price has increased up to the $2512.4 level. Further improvement in MKR market value can be expected as the hourly price chart is predicting an uptrend as well.

MKR/USD 1-day price chart: Price gets repositioned as Bullish momentum undergoes revival

The bullish momentum is intensifying day by day as more buyers are contributing towards uplifting the coin value. The uptrend has been quite steady since the past week, and today the price has increased up to $2512 as well. The SMA 20 curve is traveling higher than SMA 50 which is also a bullish signal. The moving average value is at a lower position now because of the uptrend and is settled on the $2337.13 mark.

Maker price analysis: Price up again as bullish momentum extends to $2512 1
MKR/USD 1-day price chart. Source: TradingView

As the volatility has decreased, we can expect further uptrends as well. The Bollinger bands values have been relocated as well as now the upper value is standing at $3052.2 while the lower value is at $1991.23. The Relative Strength Index (RSI) score is going higher and has reached 45.21 position at the time of writing.

Maker price analysis: MKR continues to mark new high points as bulls retain the lead

The 4-hours Maker price analysis is showing signs of considerable recovery as the price climbed up to $2514. The bulls have been ruling continuously which is why the uptrend has been quite stable. The moving average value has increased to $2483.01 as well because of the constant rise in price. There has been a crossover between SMA 20 and SMA 50 curves in the previous hours which is also a huge bullish sign.

Maker price analysis: Price up again as bullish momentum extends to $2512 2
MKR/USD 4-hours price chart. Source: TradingView

The Bollinger bands values have also undergone change, as now the upper value is situated at $2596.53 position and the lower value is at $2211.14. The RSI score has improved to 60.6, which is quite near to the over-bought limit.

Maker price analysis: Price up again as bullish momentum extends to $2512 3
MKR/USD technical indicators chart. Source: TradingView

Overall, if we analyze the situation on a general level, the price has hit its lowest during the past month. This is why the MKR/USD technical indicators chart is giving out a bearish signal. There are 11 indicators on the selling level, while the remaining nine are on the neutral and six are on the buying levels.

The moving averages indicator is giving a selling signal as well as there are 10 indicators on the selling mark, four on the buying, and one indicator on the neutral mark. The Oscillators are going neutral because of the constant shift in trends. There are eight oscillators on the neutral position, while two are on the buying and only one oscillator is on the selling position.

Maker price analysis: conclusion

The bulls are making a comeback once again according to the 1-day and 4-hours Maker price analysis. The price is on the rise and has currently settled down at the $2512 level. It is expected that the MKR price will increase even more in the coming hours, as bullish momentum is getting stronger.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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